Tax burden for cable manufacturers to be reduced by almost half

09.01.2025       

From January 1, 2025, small and medium-sized enterprises operating in the manufacturing industry will be able to take advantage of a reduced rate of insurance premiums. This rate will be reduced by almost half — from 15% to 7.6%.
This decision was approved by order dated December 11, 2024, which provides a list of more than 30 types of activities eligible for this benefit. Among the recipients of preferences are — companies producing cables, cable fittings, electric lamps and lighting equipment, as well as those engaged in the installation of industrial machinery and equipment.
Prime Minister Mikhail Mishustin emphasized that such support will allow small and medium-sized businesses to increase profitability and save billions of rubles annually for investment in the development of new products and improving working conditions for employees. The main condition for receiving the benefit is that at least 70% of the enterprise's income must come from the sale of products corresponding to the specified types of activities.
These tax benefits are enshrined in the new version of the Tax Code, adopted in July 2024.
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